Good and bad news | 23 March 2022

23 March 2022, GBP/USD

GBPUSD trading plan:

The proportion of British manufacturers expecting to raise prices over the next three months hit its highest since records began in 1975, according to a fresh survey. The Confederation of British Industry said a net balance of 80% of manufacturers in March had raised prices for domestic orders booked over the next three months, up from 77% in February. This is a positive signal for the British currency. Fed Chair Jerome Powell said the central bank must move "expeditiously" to raise rates. Those comments prompted a flood of bets in futures markets on half-point interest rate increases in May and June. Investors now see the federal funds rate rising to the 2.25%-2.5% range. This is a positive signal for the dollar.

Investment idea: range 1.3215 -1.3315.

David Johnson
Analyst of «FreshForex» company
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